News: API API Will Cease Manufacturing Personal Care And Over-The-Counter Products In New Zealand

July 12 (Reuters) - Australian Pharmaceutical Industries Ltd (API) :

• API STRATEGIC REVIEW AND TRADING UPDATE
• DECIDED TO INCREASE FOCUS OF COMPANY ON ITS PHARMACY DISTRIBUTION AND TWO RETAIL BUSINESSES
• API WILL CEASE MANUFACTURING PERSONAL CARE AND OVER-THE-COUNTER PRODUCTS IN NEW ZEALAND
• WILL OUTSOURCE MANUFACTURE OF PERSONAL CARE & OTC PRODUCTS
• SEES FULL YEAR UNDERLYING EBIT TO BE CIRCA $66 MILLION TO $68 MILLION
• ANTICIPATE A NET EFFECT OF $24.5 MILLION AT EBIT LEVEL FROM SALE OF PLANT
• ANTICIPATE CONSUMER BRANDS GENERATE ORDER OF $5 MILLION INCREMENTAL EBIT/ANNUM AFTER WINDING DOWN NZ MANUFACTURING
• IN EVENT RESTRICTIONS REMAIN IN THEIR CURRENT FORM BEYOND END OF JULY IMPACT IS A REDUCTION OF ABOUT $1 MILLION IN EBIT/WEEK OF EXTENSION